Latest news with #AssochamGujaratStateCouncil
Time of India
03-08-2025
- Business
- Time of India
Gujarat sees 50% surge in solar power, becomes India's fastest-growing state in FY25
Gujarat recorded a sharp 50 per cent surge in solar power generation in FY 2024-25, emerging as the fastest-growing state in India in terms of annual increase. The state generated 20,219.48 million units (MUs) of solar electricity in FY25, up from 13,468.91 MUs in FY24, according to data tabled in Parliament by the Union ministry of new and renewable energy. Over just two years, Gujarat nearly doubled its solar output, which stood at 10,335.32 MUs in FY23, signalling its rapid transition to renewable energy. With this performance, the state now ranks second in the country in total solar power generation, behind Rajasthan, which recorded 49,101.62 MUs in FY25. Policy support, favourable business conditions and growing industrial interest have all contributed to this momentum. Gujarat's Renewable Energy Policy and its focus on decentralised approach, which has led to the adoption of rooftop and solar park models, have played a key role in ramping up capacity. Kunj Shah, chairman, RE committee, Assocham Gujarat State Council, said, "Residential rooftop solar adoption has seen a strong push, especially due to the PM Surya Ghar Yojana , which offers subsidies and soft loans through banks. Earlier limited to cities, rooftop installations are now gaining ground in rural areas as well. Industries too are increasingly adding captive capacity. Global measures like the EU's Carbon Border Adjustment Mechanism (CBAM) have also nudged exporters to decarbonise, further accelerating the shift to solar." Industry players point to large-scale solar park investments across Kutch, Banaskantha and Patan districts as a major factor. Companies are setting up captive solar plants to meet their sustainability goals. Falling panel prices have made the switch to clean energy even more economically viable. Jai Prakash Shivahare, managing director, Gujarat Urja Vikas Nigam Ltd (GUVNL), said, "Gujarat's renewable energy policy is extremely enabling, especially for captive and third-party projects. There are no capacity limits, and many industries are eager to utilise 100 per cent of their sanctioned allowance. Regions like Kutch and Banaskantha offer land availability, which is a major draw for solar park development." "Gujarat's supportive policy ecosystem, with its skilled manpower, reliable vendors and suppliers, and lower operating costs, makes it an attractive state for RE developers. This allows companies to quote more competitive tariffs here," he further added. To support the growing capacity, GUVNL is also expanding transmission infrastructure via GETCO with a planned investment of ₹1 lakh crore.
Time of India
02-08-2025
- Business
- Time of India
Gujrat fastest growing solar power state
Gujarat recorded a sharp 50 per cent surge in solar power generation in FY 2024-25, emerging as the fastest-growing state in India in terms of annual increase. The state generated 20,219.48 million units (MUs) of solar electricity in FY25, up from 13,468.91 MUs in FY24, according to data tabled in Parliament by the Union ministry of new and renewable energy. Over just two years, Gujarat nearly doubled its solar output, which stood at 10,335.32 MUs in FY23, signalling its rapid transition to renewable energy. With this performance, the state now ranks second in the country in total solar power generation, behind Rajasthan, which recorded 49,101.62 MUs in FY25. Policy support, favourable business conditions and growing industrial interest have all contributed to this momentum. Gujarat's Renewable Energy Policy and its focus on decentralised approach, which has led to the adoption of rooftop and solar park models, have played a key role in ramping up capacity. Kunj Shah, chairman, RE committee, Assocham Gujarat State Council, said, "Residential rooftop solar adoption has seen a strong push, especially due to the PM Surya Ghar Yojana , which offers subsidies and soft loans through banks. Earlier limited to cities, rooftop installations are now gaining ground in rural areas as well. Industries too are increasingly adding captive capacity. Global measures like the EU's Carbon Border Adjustment Mechanism (CBAM) have also nudged exporters to decarbonise, further accelerating the shift to solar." Industry players point to large-scale solar park investments across Kutch, Banaskantha and Patan districts as a major factor. Companies are setting up captive solar plants to meet their sustainability goals. Falling panel prices have made the switch to clean energy even more economically viable. Jai Prakash Shivahare, managing director, Gujarat Urja Vikas Nigam Ltd (GUVNL), said, "Gujarat's renewable energy policy is extremely enabling, especially for captive and third-party projects. There are no capacity limits, and many industries are eager to utilise 100 per cent of their sanctioned allowance. Regions like Kutch and Banaskantha offer land availability, which is a major draw for solar park development." "Gujarat's supportive policy ecosystem, with its skilled manpower, reliable vendors and suppliers, and lower operating costs, makes it an attractive state for RE developers. This allows companies to quote more competitive tariffs here," he further added. To support the growing capacity, GUVNL is also expanding transmission infrastructure via GETCO with a planned investment of rupees 1 lakh crore.
Time of India
25-07-2025
- Business
- Time of India
Gujarat's export engine ready to roar with UK-India FTA
1 2 3 4 5 Ahmedabad: As global demand remains subdued and geopolitical uncertainties persist, the recently inked free trade agreement (FTA) between the United Kingdom and India offers a ray of hope for Gujarat, a highly manufacturing-heavy and export-oriented state. With its strong base in sectors like textiles, chemicals, ceramics, and IT & IT-enabled services (ITeS), Gujarat stands to be a significant beneficiary of the tariff relaxations and market access provisions under the FTA. Textiles: Gearing Up for Duty-Free Access You Can Also Check: Ahmedabad AQI | Weather in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad Gujarat's textile sector, contributing over 12% of India's textile exports, is expected to be among the biggest winners. Indian garments currently face duties of 8% to 16% in the UK. The FTA could eliminate or significantly reduce these tariffs, making Gujarat's cotton and man-made fibre garments more competitive against products from countries like Bangladesh, Vietnam, and Turkey. Chintan Thaker, chairman of the Assocham Gujarat State Council, said, "The UK is the third biggest importer of textiles from India. Exports to the UK stand at $2.04 billion (approx Rs 17,000 crore), largely apparels and made-ups. With the new FTA, we expect to double this by 2026." Thaker added that apparel manufacturers are optimistic about the UK market, which offers better margins than the US. "With direct access to the UK market at zero duty, Gujarat's textile hubs like Surat and Ahmedabad could see a revival in export orders, boosting the local industry," he further said. Ronak Chiripal, promoter, Chiripal Group, emphasised, "This move will directly improve cost competitiveness for Indian manufacturers compared to duty-free exporters like Bangladesh and Turkey. The agreement also encourages greater product innovation and margin stability in a price-sensitive market." Gems And Jewellery: Gujarat's Shine Set to Sparkle Brighter Gujarat's thriving gem and jewellery sector, especially Surat, a global hub for diamond cutting and polishing, is set for a boost. Kirit Bhansali, chairman of the Gem & Jewellery Export Promotion Council (GJEPC), anticipates "exports to the UK to rise from $941 million (approx Rs 8,129 crore) to $2.5 billion (approx Rs 21,598 crore) over the next three years due to duty concessions". Chemicals: Stronger Play in Speciality Exports Gujarat's chemical industry, accounting for over 45% of India's chemical exports, anticipates improved access to the UK for speciality and fine chemicals. The FTA is expected to simplify regulatory compliance and reduce non-tariff barriers, which often hampered shipments to the EU and UK. Bhupendra Patel, chairman of Chemexcil (Gujarat), commented: "Chemicals export to the UK is not that significant, but the FTA will help in increasing volume. Many may start export to Europe through the UK. FTA will provide much-needed competitiveness to Indian exporters against China." IT & ITeS: Boosting Bilateral Tech Collaboration Gujarat's growing IT & ITeS industry, particularly in Gandhinagar and Ahmedabad, expects the FTA to unlock smoother visa norms, mutual recognition of qualifications, and easier business mobility. This would bolster tech service exports, consultancy contracts, and fintech collaborations. Tejinder Oberoi, past chairman of GESIA IT Association, said, "Opening up new markets with higher ticket sizes in addition to a trained talent pool gives our exporters an edge and access to better-value imports. With more tech projects coming our way, we can deliver greater value to clients and grow trade volumes. The FTA will also benefit fintech and semiconductor sectors." Ceramics Hopeful of Faster Exports Growth Gujarat's ceramic industry is bullish, too. Kamlesh Patel, CMD of a leading ceramics company, said that UK ceramic exports have doubled over the past 4–5 years to an estimated $120 million (approx Rs 1,036 crore) in 2024. "The FTA will be a game-changer, offering Indian ceramic products duty-free access. Exports to the UK is likely to double in less than four years," he added. Pharma Eyes Higher Generic Drugs Exports The Indian generic drugs manufacturing sector is hopeful of increased exports to the UK. As per industry estimates, the Indian generic drug industry size is around $25 billion (approx Rs 2.15 lakh crore) and 50% of it is exported. Mahendra Patel, chairman of a pharmaceutical company, said, "The FTA will significantly ease regulatory approvals for generic drugs, boosting Indian pharma exports. By improving market access and fostering collaboration, it is poised to enhance India's role as a global hub for high-quality, affordable healthcare solutions. "
